HP: cash machine

IT group generates a lot of cash, but it needs to do more than that

Samsung: sort it out

Restructuring is essential, but so is transparency

Picking losers: trapped value, value traps

Which of this year’s worst performers is set for a bounce?

Santander: inside job

The Spanish bank needs to change, but the new chief executive is a veteran of 10 years’ service

China Guangdong: the nuclear option

Beijing’s recent commitments to cutting pollution mean CGN is coming to market at a good time

ECB bond-buying: Last action hero

Mario Draghi’s pledge to raise inflation may oblige investors to head into riskier euro assets

Steinhoff: Africa in Europe

Acquiring privately held Pepkor is a departure for South Africa-based discount furniture group

Google: trust and antitrust

US search engine’s EU woes mirror those of Microsoft and may get worse before they get better

BT: reversed auction

The telecoms company has some leverage, but it must apply it

Private equity: extend and PE-tend

Lower fees for longer lock-ups on buyout funds: a bad deal

  • Amazon: a valuation debate

    Lex has long argued that Amazon, despite being a stunningly successful and wildly interesting company, is overpriced. Our astute friend Chris Rossbach, CIO at the long-term value shop J. Stern and Co., thinks we’ve got it all wrong, and wrote us the brief manifesto below explaining his view. It’s well worth a read, and makes an interesting contrast to our own view (on which more later):

    Keeping Calm and Clicking On

  • Bankable business models.

    Lex live from the FT Banking summit. Bank returns have been hit by increased regulation, continued low interest rates and slow economic growth. Have lower returns on equity and competition from non-banking competitors rendered many banking business models obsolete? Can universal banks, in the long term, produce better ROEs than more specialist banks?

    Join us at midday UK time for a live discussion.

  • European Telecom M&A: a dissenting view

    There has been a range of reactions to our recent big read urging consolidation on the European telecoms carriers.

    By far the most well-argued comes from New Street Research. They think Lex has completely lost the plot.

    They were kind enough to send us the detailed dissent below:

  • Abenomics, Act 2?

    The prime minister has called a snap election for next month to help delay a tax increase. The central bank governor thinks inflation may fall below 1 per cent "for the time being". The stock market is up a fifth in a month.

    Japan is a curious place for an investor at the moment. And yet Japanese equities seem to be one of the great trades of 2015 - if Abenomics works. Lex weighs the merits, in this live session...

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